Oil prices fell as euphoria faded over a budget deal reached earlier this week by U.S. lawmakers and traders focused on signs of lackluster demand.
Benchmark crude for February delivery
fell 74 cents to $92.18 per barrel in electronic trading on the New York Mercantile Exchange.
The contract fell 20 cents to $92.92 per barrel on the Nymex on Thursday.
The deal reached in Washington prevents
the "fiscal cliff" crisis of steep, automatic tax and spending
increases from hammering the U.S. economy. But it puts off for two months some
hard decisions about spending cuts that are needed to get the country's mammoth
deficit under control.
Brent crude, used to price international
varieties of oil, fell 66 cents to $111.48 a barrel on the ICE Futures exchange
in London.